Verity Extends Regent Pacific Agreement and Appoints Gary J. Sbona to
Board of Directors
SUNNYVALE, Calif.--(BUSINESS WIRE)--May 4, 1998--Verity, Inc. (Nasdaq: VRTY - news), a leading provider of
information retrieval solutions for the enterprise and Internet, today announced that it has extended the term of its agreement
with Regent Pacific Management Corporation through August 1999. Regent Pacific, which has provided management services
to Verity since July 1997, will continue to provide the services of Gary J. Sbona as President and Chief Executive Officer of
Verity, as well as the services of other principals of Regent Pacific as part of the Verity management team. The amended
agreement also provides Verity with the option to extend the term of the agreement through February 2000.
Verity also announced that Sbona, who is Chairman and Chief Executive Officer of Regent Pacific, has been appointed to
serve as a member of Verity's Board of Directors, effective May 1, 1998.
About Verity
Verity's products are used by more than 1,000 corporations, government agencies, online service providers, Internet publishers
and software developers worldwide. Verity partners include Adobe Systems, AT&T, CNET, Cisco, Compaq, Dow Jones,
Ernst and Young, Financial Times, NewsEDGE Corporation [Nasdaq:NEWZ - news], Informix, NEC, Netscape
Communications, PC DOCS, SAP, SCO, Siemens Nixdorf, Sybase, Tandem and Time Warner Pathfinder.
For more information contact Verity at info@verity.com or at the World Wide Web site verity.com or by calling
408-541-1500
|
